4,593 Shares in Newmont Corporation $NEM Bought by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC acquired a new stake in Newmont Corporation (NYSE:NEM) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 4,593 shares of the basic materials company’s stock, valued at approximately $530,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Newmont during the second quarter valued at about $11,289,753,000. Van ECK Associates Corp purchased a new position in shares of Newmont in the second quarter worth about $671,197,000. Bank of New York Mellon Corp purchased a new position in shares of Newmont in the second quarter worth about $1,219,505,000. First Eagle Investment Management LLC purchased a new position in shares of Newmont in the second quarter worth about $241,820,000. Finally, Amundi purchased a new position in shares of Newmont in the second quarter worth about $209,411,000. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NEM opened at $118.22 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. The stock has a market capitalization of $122.85 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56. The stock’s 50 day moving average price is $119.34 and its 200-day moving average price is $112.44. Newmont Corporation has a 52-week low of $80.49 and a 52-week high of $135.29.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The company had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the firm posted $1.71 earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts predict that Newmont Corporation will post 9.11 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s payout ratio is presently 12.09%.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total transaction of $477,486.00. Following the sale, the chief executive officer owned 131,353 shares of the company’s stock, valued at approximately $16,156,419. The trade was a 2.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the sale, the executive vice president directly owned 31,315 shares in the company, valued at $3,383,272.60. The trade was a 8.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,646 shares of company stock valued at $2,380,140 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont’s strong free-cash-flow momentum is supporting investment in growth projects and additional shareholder returns, a potential fundamental tailwind. Article: Can Newmont’s Strong Free Cash Flow Momentum Carry Into Q4?
• Positive Sentiment: Recent quarterly results also provide support: Newmont beat analyst expectations for earnings and revenue, with revenue up year over year. Newmont company information
• Negative Sentiment: Insider-sale reports may weigh modestly on sentiment. EVP Peter Toth sold 3,000 shares, while the reported executive transactions were made under pre-arranged plans; the CEO’s sale was described as covering tax withholding on vested awards, which reduces their significance as a signal about the company’s outlook. Article: Insider Selling: Newmont EVP Sells 3,000 Shares

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NEM shares. Canadian Imperial Bank of Commerce set a $154.00 target price on Newmont in a report on Friday, October 16th. TD raised their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price target (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. BNP Paribas Exane boosted their price objective on Newmont from $102.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Finally, Bank of America boosted their price objective on Newmont from $135.00 to $145.00 in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.20.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.